Global Growth Strategy Boosts Inver House Distillers

Airdrie-based Inver House Distillers has announced another set of positive financial results for the year to December 2010.

Following on from encouraging results last year, 2010’s turnover increased from £53 million in 2009 to £62.9 million with operating profits remaining at £9.8 million and pre-tax profits staying the same at £9.6 million.

In addition to the continuing success of the core brands, the positive results were underpinned, in particular, by strong global growth from Old Pulteney Single Malt Whisky which saw volume grow by 22% and value by 34%.

This coincided with the start of the brand’s biggest-ever sponsorship campaign, the ‘Old Pulteney Row to the Pole’ – a world-first expedition which will see explorer Jock Wishart and his crew attempt to row to the North Pole in August this year.

The sponsorship, which has built on the brand’s continued maritime-themed marketing programme, includes an extensive integrated marketing campaign both in the UK and the US, and culminates in the launch of a commemorative pack later this year when the crew return from their adventure.

The brand made significant increases in 2010 in many target growth markets, including Russia and the US as well as in more established markets such as travel retail and duty free, and is now the number 11 single malt brand in terms of UK volume sales.

Graham Stevenson, managing director of Inver House Distillers, commented: "Our turnover has shown healthy growth of 19% to £63m with the growth of our single malt brands and new Caorunn gin contributing to this - both have performed ahead of expectations, showing excellent prospects for the future.

"In addition, we have enjoyed additional business in supplying products to our parent company, ThaiBev.

"At the pre-tax level our result is flat, reflecting our increased investment in the marketing and distribution of our brands in key international markets. We remain confident that this will prove highly beneficial in the long term."

Inver House Distillers, a subsidiary of International Beverage Holdings Ltd, is behind some of Scotland’s most distinctive, high-quality single malt and blended whiskies, including Old Pulteney, anCnoc, Balblair and Hankey Bannister as well as Caorunn, a small batch distilled gin.

It owns five distilleries across Scotland (Pulteney, Balblair, Speyburn, Knockdhu and Balmenach) and manages the production, distillation and maturation of a broad portfolio of drinks brands in markets across the globe.

International Beverage Holdings was established in 2005 as the international arm of ThaiBev, one of South East Asia’s leading alcohol beverage companies.

With a network of regional offices in Asia, Europe and North America, the company is responsible for the production, sales, marketing and distribution of a portfolio of premium global brands in over 80 countries and territories.

Inver House Distillers is globally integrated into International Beverage Holdings and drives the distillation and maturation of Scotch through its five distilleries.

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